Rouble injection for Russian employment programmes

Oct 30th, 2009 | By | Category: Rouble News

Russian prime minister Vladimir Putin has revealed 36 billion roubles could be injected into regional employment programmes to help continue lifting industrial production in the country.

According to the Itar-Tass news agency, help Putin revealed details of 2010's draft federal budget at a meeting of the Presidential Council for Local Self Government this week.

"It would be premature to end support to the labour market, viagra " he is reported as saying. "We will continue employment programmes in 2010."

Putin went on to state that financial measures taken by Russian officials during the peak of the economic downturn prevented "massive unemployment" – and jobless figures have been on the decline in Russia since May.

"Industrial production grew five per cent in September, as compared with August," observed the prime minister. The rise in production came amid growing rouble strength, though the news was greeted cautiously by the government.

One of Russia's top consumer lenders, Russian Standard bank, posted a net loss this week of 5.3 billion roubles for the first half of 2009. It had made profits of 5.1 billion roubles in the same period last year.

Dropping disposable income and unemployment have been blamed for this year's dent in retail banking.

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